Home » Blog » A former broker turned Northern Regional Manager on the benefits of partnering with Prospa

A former broker turned Northern Regional Manager on the benefits of partnering with Prospa

Renee Tocco was a broker for seven years. Now, she’s Prospa’s Northern Regional Manager, working with a team of BDMs who assist Partners to make the most of every opportunity. Here are her tips for growth in commercial finance. By Renee Tocco, Northern Regional Manager at Prospa.

At a glance

  • Prospa’s Renee Tocco worked in finance brokerage before pivoting into working capital solutions.
  • She now leads a team of Prospa Business Development Managers across eastern Australia.
  • By partnering with Prospa, brokers can work with their BDM to secure flexible funding for their eligible small business clients – and help realise opportunities for their own business.
  • To really thrive, she suggests being ambitious in gaining new business and developing a single, simple plan for growth.

Prior to joining Prospa, I ran my own finance brokerage business for seven years before diversifying into working capital solutions. This is when I developed a passion for business development – I started helping others to help small business owners in their quest for business finance. 

In my current role of Northern Regional Manager at Prospa, I work with a team of Business Development Managers (BDMs) across Queensland, New South Wales and the ACT, who help our Partners make the most of the opportunities that exist within their network. I work with brokers, accountants, suppliers, vendors and aggregators, all to deliver funding solutions tailored to the needs of small businesses. 

How I work with brokers

My favourite part of the role is working together with my team – working with Partners who have a lot of ambition and drive, involve Prospa in their planning, and want to see their Partners thrive. That’s why I try to organise as many in-person meetings as I can – so I can be on the ground as much as possible, helping my team solve their Partners’ problems and providing guidance where necessary. 

By spreading time with BDMs and Partners across the region, I try to develop an encouraging team dynamic that fosters growth and excitement about the work we do. We all work in an industry centred around supporting the financial livelihoods of small businesses, and often a team approach to new ideas and solutions – one that involves Partners at all stages – is the most effective. I’m always learning a lot from the ideas they bring to the table. 

In particular, I find that Partners enjoy having strategic planning meetings – that’s essential to success. Strategic meetings are when they open up, show us what their plans are, and ask for input. That’s where we have the most success with our Partner relationships – and where Partners have the most success in their own business. 

How to become a Prospa Partner

As a Prospa Partner, you’ll have a team of peers on hand to assist when needed. Partnering can enable you to: 

  • Track the status of applications from start to finish with a personalised dashboard, where you can enter and track leads, view commissions and see status updates in real time. 
  • Earn commission rates for new and repeat loans, meaning you can build an ongoing revenue stream from a single referral. 
  • Access tools and marketing resources to help you win new customers and find opportunities in your database. 

Despite the significant Partner database, Prospa offers the same level of support to all its Partners. 

My 5 tips for Prospa Partners

1. Develop a straightforward plan

One of the best parts about being a Prospa Partner is the one-team approach – we treat Partners as part of our extended team, provide constant support, and collaborate when it comes to working with customers. 

Decide from the outset what parts of customer care you would prefer to take care of, and what you would like Prospa to take care of – either way, you’ll have access to a dashboard tracking the application’s progress in real time. 

2. Know the numbers

You need to understand your customer demographic: 

  • Where do your leads come from? 
  • How do customers identify your particular finance brokerage? 
  • Once you understand what your typical customer is, what’s the best way to communicate with them? 

From there, it’s much simpler to mould a financing option to each client who walks in through the door. 

3. Identify opportunities

Prospa x YouGov data shows that over a quarter of Australian business owners expect to access funding in the next 12 months* – that’s an incredibly large market size with many opportunities to explore. 

Implement email marketing campaigns, and don’t be too concerned about your level of commercial acumen in particular industries. You’ll find many clients are coming to you with challenges that, at their core, you already know the solutions for – or your BDM does. 

4. Upgrade your marketing

Prospa offers an array of white label marketing content to Partners, including everything from emails and newsletters to brochures and social media content. 

These materials don’t just talk product – they also speak to relevant topics in the small business space. Our marketing team has written all the content, which is ready for Partners to use – so you don’t have to reinvent the wheel. 

5. Keep striving

Working capital finance is one of the largest niches of finance, and it’s under-addressed. 

I have successfully diversified into working capital solutions. But if I had any idea at the time of how many opportunities there were in this space, I would have done so much earlier – so what are you waiting for? 

*Prospa x YouGov SME Sentiment survey, August 2022 

If you provide finance services to small business clients, consider partnering with Prospa to put them in good hands when they need access to fast, flexible funding.

Primary CTA illustration
Get more small business insights straight to your inbox each month.
Subscribe today
Primary CTA icon
Get more small business insights straight to your inbox each month.

The information in this post is provided for general information only and does not take into account your personal situation. Nothing contained in this post constitutes advice or an endorsement or recommendation of any kind by Prospa. Any links to third party websites are strictly for informational purposes only. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from financial, legal and taxation advisors. Although every effort has been made to verify the accuracy of the information as at the date of publication, Prospa, its officers, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy, or omission from the information for any reason, including due to the passage of time, or any loss or damage suffered by any person directly or indirectly through relying on this information.

Subscribe to the Prospa Blog

Be inspired! Sign up to Prospa’s newsletter to receive tips, tools and small business success stories straight to your inbox.